True/False
Indicate whether the
statement is true or false.
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1.
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Federal Income Taxes are applied at the same rate for all
people no matter how much you make.
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2.
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Corporate income taxes are imposed at the federal level on
corporate profits. They are also imposed by local and state governments.
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3.
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Sales tax is the same anywhere you go in the United
States.
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4.
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Individuals are often required to pay property taxes
(depending upon the state) on the property they own but businesses are exempt from property
taxes.
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Multiple Choice
Identify the choice that
best completes the statement or answers the question.
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5.
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Which of the following is NOT an example of a good that has
an excise tax as discussed in class?
a. | gasoline | c. | air
travel | b. | tobacco | d. | food |
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6.
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Which is NOT one of the three main types of U.S.
Law?
a. | Common Law | c. | Statutory
Law | b. | Executive Law | d. | Administrative
Law |
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Completion
Complete each
statement.
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7.
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_________________ are special taxes placed on foreign goods
sold in the United States.
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8.
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_________________ ________________ are fees or taxes
imposed on goods brought into the country.
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9.
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One of the branches of the federal government is the
Legislative Branch. There are two parts to the Legislative Branch: the House of Representatives and
the ______________.
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10.
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The Taft-Hartley Act of 1947 legalized Right-to-_________
Laws that allow employees the right to work for a company whether or not they decide to join the
union.
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11.
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The ______________ Act of 1935 gives workers the right to
organize a union and bargain with management.
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12.
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________________ _________________ is when union
representatives and management come together to discuss issues arising between employees and
employers.
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